Canada produced 67.3 million of tonnes of coal in 2011 according to the preliminary results of a PwC report on the industry, generating revenues of $6.5 billion. About 40 per cent of that is exported.
“There’s volatility in the market but we think the coal market will continue to grow and there will be opportunities for Canadian companies,” Janice Plumstead, director of consulting and deals at PwC said Monday.
“What we see is companies are investing in mine development, they are doing exploration and they are looking for new deposits. There is the expectation that there will be new opportunities to export to Asia,” she said in an interview after making a presentation at the Coal Association of Canada’s national conference in Vancouver.
Plumstead said that despite the drop in prices, coal remains profitable. Producers, she said, “are pleased.”